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Still not out of the
woods, but doing well
The hospitality industry has survived
the recession better than most expected
L
ooking through the British
Hospitality Association's (BHA)
latest publication – British
Hospitality: Trends and Developments
2009 – it becomes clear that the
Proposals for the new five-star hotel have now been mothballed hospitality industry is still moving
forward, despite a recession widely
Edinburgh hotel scheme blocked
regarded as the worst in living memory.
Hotel insolvencies so far (the
Scottish Government turns down £250m proposals
coming winter period will be a testing
time) have been few, as the
By Martin Nash Haymarket district, impacting publication reveals. Only 178 hotels in BOB COttOn is
on views of St Mary's Cathedral 2008 (but possibly more than that in chief executive of
Plans by Tiger Developments spires and Edinburgh Castle 2009) is hardly a significant number the BHA. Leisure
for a £250m scheme in the and be out of keeping with the in a sector with over 46,000 Opportunities is a
centre of Edinburgh, which city's world heritage status. establishments. And though member benefit of
would have included a Graham Birse, of the restaurant insolvencies, at 778 in the BHA. to order
17-storey, leaf-shaped Intercon- Edinburgh Chamber of 2008, are higher than in 2007, this is your free copy, call
tinental Hotel and a Travelodge, Commerce, said: "With this a sector that is notorious for failed 01462 471915
have been turned down by the conclusion ministers have done businesses even in the best of times.
Scottish Government. nothing to encourage sustain- What is also encouraging is that almost every
Although passed by the city able development in our capital establishment that has gone into insolvency has re-opened
council in 2008, a public city at a time when the longest under new ownership. Furthermore, despite the recession,
enquiry into the project – de- recession in living memory is the hotel industry is continuing to expand with more than
signed by Richard Murphy making deep and painful 11,000 rooms opening in 2009 and a further 40,000 planned
Architects and also featuring inroads into our economy. for the period 2010-2015.
offices and retail space – found "The project was ready to roll, Since the present boom started in 2003, over 85,000 new
that the 17-storey hotel would and offered £250m investment, rooms have been added to UK hotel stock, just over half (55
dominate the area in the city's 2,150 jobs and a five-star hotel." per cent) in the budget sector – the biggest hotel
construction period in the industry's history.
Of course, the recession has had an impact and the
IHG plans new Westminster property
recession is discouraging some investment. More than 30
hotel developments have been put on hold or abandoned
InterContinental Hotels Group IHG has secured a 20-year because developers have either been forced into
(IHG) has unveiled plans to management deal with Splen- administration or have faced planning problems. Funding has
open a new 254-bedroom did Hotel Group to operate been another issue. Some of these projects already had hotel
hotel in Westminster, London, the property, which will join companies lined up to operate the development.
in a bid to build its presence the company's Park Lane So the hospitality industry is not yet out of the woods. But
in the capital ahead of the property as the second the new BHA Trends... publication does show that the
2012 Olympics. InterContinental property to industry has survived better than most people had expected.
The new InterContinental open in the capital. There is a long way to go to until we can return to 2007 levels
London Westminster hotel, Proposed facilities at the of confidence and profitability, but we are heading along the
which is scheduled to open in London Westminster hotel right path. Investment still needs to be encouraged and
late 2011, will occupy the include 218 guest rooms, 23 standards must be enhanced, not just maintained. Value for
former Queen Anne's studios, 12 suites and a money must be self-evident.
Chambers building near New presidential suite, as well as a The next 12 months will no doubt be difficult, but the
Scotland Yard. gym and a club lounge. hospitality sector has shown its ability to survive in the bad
times as well as the good.
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